This hugely popular scheme has been specially designed with income tax benefits for both salaried professionals and businessmen.
Key Features:
- No maximum limit for investment.
- No Tax deduction at source.
- Certificates can be kept as collateral security to get loan from banks.
- Investment up to Rs 1 lakh per annum qualifies for income tax rebate under Section 80C of the Income Tax Act, 1961.
- A single holder type certificate can be purchased by, an adult for himself or on behalf of a minor or by a minor.
Source: India Post
